JinkoSolar (NYSE:JKS) Shares Gap Down to $28.55

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $28.55, but opened at $27.50. JinkoSolar shares last traded at $26.32, with a volume of 293,746 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on JKS shares. StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. UBS Group decreased their target price on JinkoSolar from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, March 21st. Roth Mkm reiterated a “neutral” rating and set a $25.00 price objective on shares of JinkoSolar in a research report on Tuesday, April 30th. HSBC reissued a “hold” rating and issued a $30.00 price objective on shares of JinkoSolar in a research report on Monday, February 5th. Finally, The Goldman Sachs Group reduced their price target on shares of JinkoSolar from $26.00 to $23.00 and set a “sell” rating on the stock in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.60.

JinkoSolar Stock Performance

The firm’s 50 day simple moving average is $24.39 and its 200 day simple moving average is $28.54. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 4.20 and a beta of 0.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.77 and a current ratio of 1.03.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.39 EPS for the quarter, beating the consensus estimate of ($0.44) by $0.83. JinkoSolar had a return on equity of 11.12% and a net margin of 2.74%. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.27 billion. Sell-side analysts forecast that JinkoSolar Holding Co., Ltd. will post 2.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JinkoSolar

A number of institutional investors have recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in JinkoSolar in the third quarter worth approximately $31,000. Signaturefd LLC increased its stake in JinkoSolar by 202.1% in the fourth quarter. Signaturefd LLC now owns 1,006 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 673 shares during the last quarter. Barometer Capital Management Inc. purchased a new position in shares of JinkoSolar in the 4th quarter worth $126,000. Daiwa Securities Group Inc. boosted its holdings in JinkoSolar by 117.1% in the first quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company’s stock valued at $191,000 after acquiring an additional 4,100 shares during the last quarter. Finally, Banco BTG Pactual S.A. acquired a new stake in JinkoSolar during the first quarter worth about $207,000. 35.82% of the stock is owned by institutional investors and hedge funds.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.